Now I am not personally a big believer in charts or technical analysis for future movements, but they do make excellent demonstrative tools. Just a little reminder to all what ASM did after the usual EOFY sell down late 2023FY:
A qtry activities report end of July didn't hurt, nor the Vietnam, VTRE and Blackstone MOU, but the big mover (on 3 August) to a $2.25 high? The long term sales agreement with USA Rare Earths LLC.
Hands up who thinks we are rather overdue a couple of larger deals than that in forthcoming months? Good luck ASM holders. Personally am all in as I am going to be for while on the usual EOFY tax sale down - always painful for those who do stay in. People complain this is a traders' stock, but it rather wouldn't be if investors didn't steadily pile in with exuberance, and steadily sell out with lack of patience - it being worn understanble but selling because of a lack of it not.
As I have shown before, to scathing, ASM and ALK combined now trade below their joint pre-merger value, and for the progress in ASM, and allowing for the disappointment of the drop from the exuberant 2021 highs, that's just a bit silly from a valuation perspective.
ASM Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
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